Invesco Ltd. Increases Position in Sealed Air Co. (NYSE:SEE)

Invesco Ltd. boosted its holdings in Sealed Air Co. (NYSE:SEE) by 69.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,788,839 shares of the industrial products company’s stock after purchasing an additional 1,549,184 shares during the period. Invesco Ltd. owned about 2.60% of Sealed Air worth $128,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SEE. Manchester Capital Management LLC raised its position in shares of Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 700 shares in the last quarter. GAMMA Investing LLC raised its holdings in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Sealed Air during the 4th quarter valued at $45,000. Smartleaf Asset Management LLC grew its holdings in Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 913 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Sealed Air by 89.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 712 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analyst Upgrades and Downgrades

SEE has been the topic of several research analyst reports. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Mizuho reduced their target price on Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley lowered their price target on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research note on Tuesday, March 4th. Finally, Truist Financial boosted their target price on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sealed Air currently has an average rating of “Moderate Buy” and an average price target of $40.25.

Sealed Air Stock Performance

Shares of SEE opened at $25.96 on Friday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a 1 year low of $22.78 and a 1 year high of $41.14. The firm has a fifty day moving average of $30.54 and a 200-day moving average of $33.69. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 9.54 and a beta of 1.35.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $0.88 EPS. Sealed Air’s revenue was down .4% on a year-over-year basis. As a group, equities analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, March 14th. Sealed Air’s dividend payout ratio is currently 44.20%.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, with a total value of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.

About Sealed Air

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.